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Craftsman Air Compressor 3 gallon 1 HP oil lubricated model number 921.153101

I purchased the Craftsman Air Compressor 3 gallon 1 HP oil lubricated model number 921.153101, serial number 757588 in 2008. Until recently it has performed well with no problems. During operation recently, the sound of the unit noticeably changed and the compressor could not develop pressure enough to satisfy the pressure activated shutoff switch, it only managed 80+/- psi. I removed the cylinder head expecting to see broken or worn Reed Valves-they appeared to be ok, I then removed the piston cylinder expecting to see broken or damaged ring, they also seemed ok, the cylinder walls are smooth and unseared. I reassembled everything and although it runs the pressure developed progressively drops with subsequent startup. I would appreciate some accurate insight to the probable culprit of the problem before I merely buy parts and fix the problem by process of elimination.

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Air Compressors , Craftsman , Tools
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2 Answers from these members:
Manage My Life
by Manage My Life
June 22nd, 2010
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Manage My Life
by Manage My Life
June 24th, 2010
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